Molson Coors Beverage (TAP) to Release Quarterly Earnings on Tuesday

Molson Coors Beverage (NYSE:TAP) is scheduled to announce its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.70 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. On average, analysts expect Molson Coors Beverage to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $62.54 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The company has a market capitalization of $13.30 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 2.16 and a beta of 0.84. The company’s 50 day moving average price is $65.15 and its two-hundred day moving average price is $62.37. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.81%. Molson Coors Beverage’s dividend payout ratio (DPR) is 40.37%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TAP. Citigroup downgraded shares of Molson Coors Beverage from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $66.00 to $56.00 in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Barclays raised their target price on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Finally, TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.07.

Insiders Place Their Bets

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.71% of the company’s stock.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.